What is Tezos (XTZ)?
Tezos is a self-amending decentralized blockchain platform that enables the formalization of smart contracts. By facilitating the formal verification of smart contracts it helps avoiding buggy code. Other than that, it is similar to the Ethereum blockchain, allowing creation and formalization of smart contracts. The platform creates governance rules that stakeholders within the network must abide with when verifying transactions. he key features of this platform is on-chain governance and self-amendment.
Tezos’ network follows a different protocol method from the conventional blockchain. It is using a generic network shell focused on a modular strategy. The project is written in the OCaml programming language.
In terms of validating and signing of blocks, Tezos has adapted a delegated proof-of-stake consensus algorithm. In this staking method, stakeholders, known as bakers participate in Tezos’ baking process. The backers are required to deposit some tokens and then get rewarded for signing blocks or punished for errant behavior. Punishment includes losing one’s deposits
Tezos hopes to better its predecessors by giving stakeholders full control of the network hence enhancing decentralization. The network is the brain child of Arthur Breitman, a French mathematician and scientist and his wife Kathleen Breitman, who has a background in the financial sector.
- Historical Data
- Bitcoin Price Above $11.5K as Key BTC Price Metric Suggests $12K RetestCointelegraph.com News - 12 hours agoBitcoin recovered back above $11.5K, leading traders to suggest a renewed attack on $12K could occur soon. Today Bitcoin (BTC) price rebounded from its recent…
- Crypto Exchange Bitfinex Is Down Right NowCointelegraph.com News - 12 hours agoInternational crypto exchange Bitfinex unexpectedly went offline for all users this afternoon, citing a ‘platform performance issue.’ Bitfinex has been offline for at least two…
- Yam Suffers Technical Outage Following Scam AccusationsCointelegraph.com News - 13 hours agoYam Finance uncovered a bug the day after ShapeShift CEO Erik Voorhees called the project a scam. Yam finance (YAM), the latest fad in the…
- Malaysian Crypto Miners Were Caught Stealing Electricity From the StateCointelegraph.com News - 13 hours agoThey thought they had it made, but the Malaysian authorities were one step ahead. Malaysian police arrested four cryptocurrency mining operators after discovering that they…
- Peter Brandt’s Tether Warning Is Ominous, But UnclearCointelegraph.com News - 14 hours agoPeter Brandt didn’t mince his words when describing the controversial stablecoin. “Tether is an accident waiting to happen,” Brandt tweeted on Aug. 10, in response…